Praising the resilience of the Indian economy, International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke has said that India remains a key driver of global growth and continues to be the world’s fastest-growing major economy, supported by strong fundamentals and sound policy frameworks.
Clarke recently visited India, where he held meetings with Finance Minister Nirmala Sitharaman, Reserve Bank of India (RBI) Governor Sanjay Malhotra, NITI Aayog Vice Chairman Ashok Kumar Lahiri, and business leaders. Clarke said his discussions with policymakers focused on India’s economic outlook, the evolving global environment, and policy priorities aimed at supporting sustainable and inclusive growth. He noted that “India has the potential to power the next wave of global growth, and the IMF remains a close partner in supporting the country on this journey.”
During his September 7-11 visit to India, Clarke also met government officials and business leaders in Mumbai and Chennai. Against the backdrop of heightened global uncertainty and evolving risks, Clarke said preserving macroeconomic stability and resilience remains essential. He said “We discussed the importance of maintaining nimble policies, keeping inflation in check, and advancing reforms that can lift productivity, strengthen competitiveness, and sustain strong growth over the medium term”.
He said his interactions highlighted the potential of innovation, digital transformation, advanced manufacturing, and technology adoption to boost productivity, strengthen competitiveness, and support higher-value economic activities. He added “Sustained investment in skills and responsible technology use will be important to ensure that the benefits of growth are widely shared”.
